Geode Capital Management LLC Purchases 126,352 Shares of Bank OZK (NASDAQ:OZK)

Geode Capital Management LLC grew its holdings in shares of Bank OZK (NASDAQ:OZK) by 6.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,022,979 shares of the company’s stock after purchasing an additional 126,352 shares during the quarter. Geode Capital Management LLC owned about 1.78% of Bank OZK worth $86,989,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in OZK. M&T Bank Corp boosted its holdings in Bank OZK by 1.9% in the 3rd quarter. M&T Bank Corp now owns 13,432 shares of the company’s stock worth $578,000 after buying an additional 244 shares during the period. Evergreen Capital Management LLC lifted its position in shares of Bank OZK by 8.3% during the second quarter. Evergreen Capital Management LLC now owns 5,079 shares of the company’s stock worth $208,000 after acquiring an additional 388 shares in the last quarter. Raymond James Trust N.A. boosted its holdings in shares of Bank OZK by 6.0% in the third quarter. Raymond James Trust N.A. now owns 7,184 shares of the company’s stock worth $309,000 after acquiring an additional 407 shares during the period. Assetmark Inc. grew its position in shares of Bank OZK by 73.8% in the third quarter. Assetmark Inc. now owns 968 shares of the company’s stock valued at $42,000 after purchasing an additional 411 shares in the last quarter. Finally, Caprock Group LLC raised its stake in shares of Bank OZK by 10.5% during the 3rd quarter. Caprock Group LLC now owns 6,805 shares of the company’s stock valued at $293,000 after purchasing an additional 645 shares during the period. Institutional investors own 86.18% of the company’s stock.

Bank OZK Price Performance

Shares of Bank OZK stock opened at $43.43 on Friday. The business’s 50-day moving average price is $46.60 and its 200-day moving average price is $43.43. The firm has a market capitalization of $4.93 billion, a PE ratio of 7.14 and a beta of 1.18. Bank OZK has a 12 month low of $37.43 and a 12 month high of $51.50. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.12.

Bank OZK (NASDAQ:OZK) last posted its quarterly earnings results on Thursday, October 17th. The company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.53 by $0.02. The firm had revenue of $423.00 million for the quarter, compared to the consensus estimate of $419.08 million. Bank OZK had a net margin of 26.07% and a return on equity of 14.15%. Sell-side analysts forecast that Bank OZK will post 6.03 EPS for the current fiscal year.

Bank OZK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, October 11th were paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend was Friday, October 11th. This is a positive change from Bank OZK’s previous quarterly dividend of $0.40. Bank OZK’s dividend payout ratio is 26.97%.

Analyst Ratings Changes

Several research analysts have commented on the company. UBS Group began coverage on Bank OZK in a research note on Tuesday. They issued a “neutral” rating and a $51.00 target price for the company. Stephens boosted their price objective on shares of Bank OZK from $48.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Wells Fargo & Company upped their target price on shares of Bank OZK from $35.00 to $40.00 and gave the stock an “underweight” rating in a report on Tuesday, December 3rd. Raymond James lowered shares of Bank OZK from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 17th. Finally, Truist Financial lowered their price objective on Bank OZK from $48.00 to $46.00 and set a “hold” rating on the stock in a research report on Monday, October 21st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $49.33.

Bank OZK Profile

Bank OZK provides various retail and commercial banking services for individuals and businesses in the United States. The company offers deposit services, including non-interest bearing checking, interest bearing transaction, business sweep, savings, money market, individual retirement, and other accounts, as well as time and reciprocal deposits.